C&J Energy Services Announces Pricing of Public Offering of Common Stock

HOUSTON, April 7, 2017 /PRNewswire/ -- C&J Energy Services, Inc. (NYSE MKT: CJ) ("C&J" or the "Company") announced today that it has priced a public offering of 7,000,000 shares of its common stock at a price to the public of $32.50 per share.  The Company will sell 6,000,000 shares of common stock and a selling stockholder will sell 1,000,000 shares of the Company's common stock (collectively, the "Offering").  Total gross proceeds to the Company (before discounts and commissions and estimated offering expenses) will be approximately $195 million.  In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock from the Company as part of the Offering.  

The Company expects to use the net proceeds to the Company from the Offering for general corporate purposes, including to fund 2017 capital expenditure and growth initiatives.  The Company will not receive any proceeds from the sale of its common stock by the selling stockholder.

Citigroup, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., Evercore Group L.L.C. and Wells Fargo Securities, LLC are acting as book-running managers for the Offering. Blackstone Advisory Partners L.P., Jefferies LLC, PNC Capital Markets LLC and Seaport Global Securities LLC are acting as co-managers for the Offering.

The Offering is being made pursuant to an effective registration statement on Form S-3 (Registration No. 333- 216515), which was filed with the U.S. Securities and Exchange Commission ("SEC") and became effective March 20, 2017.  The Offering is being made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained on the SEC's website at www.sec.gov.  Alternatively, the joint book-running managers will arrange to send you the preliminary prospectus supplement and related base prospectus if you request them by contacting:

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (800) 831-9146

Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
Eleven Madison Avenue
New York, NY 10010
Telephone: (800) 221-1037
[email protected]

and

Morgan Stanley & Co. LLC
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About C&J Energy Services
C&J Energy Services is a leading provider of well completion, well support, well construction and other complementary oilfield services to oil and gas exploration and production companies.  We offer a comprehensive, vertically-integrated suite of services throughout the life cycle of the well, including hydraulic fracturing, cased-hole wireline and pumpdown, cementing, directional drilling, coiled tubing, rig services, fluids management and other support services.  We are headquartered in Houston, Texas and operate in all of the active onshore basins of the continental United States and Western Canada.

C&J Energy Services Investor Contact
Daniel E. Jenkins
Vice President – Investor Relations
[email protected]
1-713-260-9986

Forward-Looking Statements and Cautionary Statements
Statements in this new release that are not historical facts, including but not limited to those relating to the proposed public offering, the use of proceeds from therefrom and other matters relating thereto, and other statements that are not historical facts are forward-looking statements that are based on current expectations. Although C&J believes that its expectations are based on reasonable assumptions, it can give no assurance that these expectations will prove correct. Important factors that could cause actual results to differ materially from those in the forward-looking statements include results of operations, market conditions, capital needs and uses and other risks and uncertainties that are beyond C&J's control, including those described in the prospectus and prospectus supplement, C&J's Annual Report on Form 10-K for the year ended December 31, 2016 and its other filings with the SEC. Any forward-looking statement speaks only as of the date on which such statement is made and C&J undertakes no obligation to correct or update forward-looking information.

SOURCE C&J Energy Services, Inc.

Related Links

http://www.cjenergy.com